My Covenant Place Inc
My Covenant Place Inc operated at a slight deficit in its initial reported year with minimal assets and no officer compensation.
EIN: 113826601 · Upper Marlboro, MD · NTEE: P62 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.9M |
| Total Expenses | $142K |
| Program Spending | 85% |
| Net Assets | $2K |
| Transparency Score | 70/100 |
Is My Covenant Place Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
My Covenant Place Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About My Covenant Place Inc
My Covenant Place Inc (EIN: 113826601) is a nonprofit organization based in Upper Marlboro, MD, classified under NTEE code P62. The organization reported total revenue of $1.9M and total assets of $510K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of My Covenant Place Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
My Covenant Place Inc is a mid-size nonprofit that has been operating for 6 years.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $136K |
| Total Expenses | $142K |
| Surplus / Deficit | $-5,147 |
| Total Assets | $30K |
| Total Liabilities | $28K |
| Net Assets | $2K |
| Operating Margin | -3.8% |
| Debt-to-Asset Ratio | 92.7% |
| Months of Reserves | 2.6 months |
Financial Health Grade: D
In 2022, My Covenant Place Inc reported a deficit of $5K with expenses exceeding revenue, holds 2.6 months of operating reserves (limited), has a debt-to-asset ratio of 92.7% (high leverage).
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2020 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates My Covenant Place Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, My Covenant Place Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $5K, with expenses exceeding revenue.
- Debt-to-asset ratio: 92.7%.
Executive Compensation Analysis
For the 2022 period, My Covenant Place Inc reported 0% officer compensation, which is excellent for an organization of its size and stage, indicating that all resources were directed towards its mission and operational costs rather than executive salaries.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of My Covenant Place Inc's IRS 990 filings:
- Limited financial history (only one filing)
- Slight operating deficit in the reported year ($136,483 revenue vs. $141,630 expenses)
- Very low asset base relative to liabilities ($30,324 assets vs. $28,100 liabilities)
- Significant discrepancy between 'Latest Revenue' and reported 990 revenue without explanation
Strengths
The following positive indicators were identified for My Covenant Place Inc:
- No officer compensation reported in the initial filing (0%)
- Relatively low administrative and fundraising expenses based on typical non-profit benchmarks (estimated)
- Focus on program delivery implied by the lack of executive compensation
Frequently Asked Questions about My Covenant Place Inc
Is My Covenant Place Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, My Covenant Place Inc (EIN: 113826601) some concerns. Mission Score: 70/100. 4 red flags identified, 3 strengths noted.
How does My Covenant Place Inc spend its money?
My Covenant Place Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to My Covenant Place Inc tax-deductible?
My Covenant Place Inc is registered as a tax-exempt nonprofit (EIN: 113826601). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of My Covenant Place Inc's spending goes to programs?
My Covenant Place Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does My Covenant Place Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), My Covenant Place Inc is above average for NTEE category P62 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is My Covenant Place Inc located?
My Covenant Place Inc is headquartered in Upper Marlboro, Maryland and files with the IRS under EIN 113826601. It is classified under NTEE code P62.
Is My Covenant Place Inc a good charity?
Based on its initial 2022 filing, the organization shows promise with no officer compensation and a relatively low administrative overhead. However, with only one filing and a slight deficit, it's too early to definitively label it as a 'good charity' without more financial history and program impact data.
What is the discrepancy between 'Latest Revenue' and 2022 reported revenue?
The provided 'Latest Revenue' of $1,852,905 is significantly higher than the $136,483 reported in the 2022 filing. This suggests either a substantial increase in revenue post-2022 that is not yet publicly filed, or the 'Latest Revenue' figure refers to a different period or type of income not reflected in the 990.
How does My Covenant Place Inc manage its liabilities?
In 2022, the organization reported liabilities of $28,100 against assets of $30,324. This indicates a very tight financial position where liabilities almost equal assets, suggesting limited financial flexibility.
Filing History
IRS 990 filing history for My Covenant Place Inc showing financial trends over 1 year of public records:
In its most recent filing year (2022), My Covenant Place Inc reported a deficit of $5K, with expenses exceeding revenue. The organization holds $28K in liabilities against $30K in assets (debt-to-asset ratio: 92.7%), resulting in net assets of $2K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $136K | $142K | $30K | $28K | — | View 990 |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for My Covenant Place Inc:
Data Sources and Methodology
This transparency report for My Covenant Place Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.